Orion Steel: A New Era Under Doug Matthews
Deal News | Jul 31, 2025 | Atlas Holdings LLC
Atlas Holdings has finalized its acquisition of EVRAZ North America, forming the newly established Orion Steel Companies. This strategic move brings together Rocky Mountain Steel Mills, Oregon Steel Mills, and Interpro Pipe and Steel under the leadership of CEO Doug Matthews. With a production capacity of 2.3 million tons and a focus on sustainability, Orion Steel is poised to be a key player in the North American steel market. The acquisition reflects Atlas's commitment to industrial growth and their belief in empowering the workforce to drive the steelmaker's success. Matthews, a seasoned executive from U.S. Steel, is set to lead Orion Steel into a future of steel production that aligns with the economic and security interests of the United States and Canada.
Sectors
- Steel Manufacturing
- Private Equity
Geography
- United States – Orion Steel's operations include Rocky Mountain Steel Mills and Oregon Steel Mills located in the U.S.
- Canada – Includes Orion Steel's Interpro Pipe and Steel operations in Saskatchewan and Alberta.
Industry
- Steel Manufacturing – Involves Orion Steel as a major player in the steel manufacturing industry in North America.
- Private Equity – Atlas Holdings, a private equity firm, is engaged in acquiring and restructuring steel manufacturing assets.
Financials
- 2.3 million tons – Steelmaking capacity of Orion Steel.
- 3.5 million tons – Finished steel capacity of Orion Steel.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Atlas Holdings LLC | Bidding Company | Company | A private equity firm that completed the acquisition of EVRAZ North America, forming Orion Steel Companies. |
| EVRAZ North America | Target Company | Company | A leading producer of steel products, acquired by Atlas Holdings to form Orion Steel. |
| Orion Steel Companies | New Entity | Company | Formed by Atlas Holdings, comprising Rocky Mountain Steel Mills, Oregon Steel Mills, and Interpro Pipe and Steel. |
| Doug Matthews | Chief Executive Officer | Person | Appointed as CEO of Orion Steel Companies, formerly with U.S. Steel. |
| Sam Astor | Managing Partner | Person | Atlas Holdings Managing Partner involved in the acquisition and formation process of Orion Steel. |
| Skip Herald | Board of Directors Member | Person | Previous CEO of EVRAZ North America, now on the Board of Orion Steel. |